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Mast Therapeutics to buy blood-pressure firm Aires

  • Mast Therapeutics (MSTX) has agreed to acquire Aires Pharmaceuticals, a privately held clinical-stage company developing therapies for pulmonary vascular disorders, in an all-stock deal.
  • Aires' lead product, AIR001, has orphan-drug status in the U.S. and Europe for pulmonary arterial hypertension.
  • Under the terms of the transaction, Aires will receive shares representing 6% of Mast's commons stock.
  • Adam Feuerstein tweets that Mast is "paying 6M shares of stock for Aires, or roughly $5M." Feuerstein also notes that Novartis had an option to acquire Aires but has apparently decided not to take it.
  • Notwithstanding, Mast's shares are +5%. (PR)
Comments (1)
  • jetpilotdan
    , contributor
    Comments (25) | Send Message
     
    Will Novartis partner up with mstx now that air001 can complete phase 2 & 3 goals?
    14 Sep, 12:20 PM Reply Like
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